GBA Briefs: 18/11/2019

HK startups lack global focus: Local startups in Hong Kong are lagging behind their counterparts in mainland cities, including Shenzhen and Guangzhou, because of a home-market bias that minimises or ignores opportunities internationally, according to a survey by international tax and consultancy firm Deloitte. Read more on SCMP.

OneConnect IPO: Ping An Insurance Group has filed for a highly anticipated initial public offering of its fintech unit, OneConnect, in the United States. Read more on Yicai Global.

Singapore bound: The Lion City is becoming a more popular destination for wealthy mainlanders worried about having too many of their assets in strife-torn Hong Kong. Read more on Caixin Global.  

Zhaoqing tech growth: Zhaoqing’s Hi-tech Zone gew by 9% in the first three quarters of this year, with fixed-asset investment up 13% and industrial output up 10%. Read more (in Chinese)  

Shenzhen inflation hits 4%: Shenzhen’s CPI rose more than 4.0% in October, nearly a full percentage point up over September. That brought inflation in the year to date to 3.1%. Pork prices rose 14.9%, which had a knock-on effect on beef and mutton, which rose 4.9% and 4.7%, respectively. Read more (in Chinese)

Shenzhen housing prices up: Shenzhen was the only Tier-1 city that saw housing prices rise in October in both the new and secondary markets, rising 0.4% and 1.0% over September, respectively. Guangzhou fell by 0.1% in both the new and secondary markets. Read more (in Chinese) 

HK protests hit Trip.com: The protests in Hong Kong are having an impact on China’s leading online travel agent, Trip.com, which says: “… not just from China, inbound to Hong Kong is almost completely gone.” Read more on Caixin Global.

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